Charleston County Council is holding a special meeting tonight to vote on a resolution that would allow it to start spending money on the expedited project before the bonds are issued.
If the measure passes, the county would be reimbursed for those expenses from the eventual borrowings.
The new I-26 interchange would tie into a new road that’s been called “Future Drive,” between the Ashley Phosphate Road and U.S. Highway 78 exits. From there, it would link up with Palmetto Commerce Parkway, which in turn connects to an extended South Aviation Avenue via a new overpass over Ashley Phosphate.
South Aviation runs directly past to the Boeing campus at Charleston International Airport. Right now, it’s mostly a two-lane airport perimeter service road.
The proposed South Aviation extension will directly connect the planemaker’s 787 interiors factory on Palmetto Commerce and its main assembly plant at the airport. Officials last month said the new road connection would make the land between the two sites more attractive to Boeing suppliers and other businesses, as well as relieve traffic congestion in the area.
Council’s finance committee approved the $80 million bond issue last month, shortly after Boeing said it would invest another $1.1 billion and hire 2,000 more workers in South Carolina.
The county plans to repay the bonds with money the aerospace giant pays instead of property taxes, under what is known as a fee-in-lieu-of-tax agreement. That was part of the incentive package that brought Boeing’s 787 Dreamliner assembly operation to South Carolina.
Check back at www.postandcourier.com later for more details.